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ARBUSDT ( TRADING BELLOW TURNING LEVEL ) ( 4H )ARBUSDT HELLO TRADERS The current price is trading below turning level at 0.59. Consolidation and holding below this level would provide strong support for a price decline towards the support level (1) of 0.51. However, if the price breaking and a four-hour candle closes above this level, it may lead to a rising towards resistance level (1) . Downward Zone: As long as the price stays below the turning level at 0.59 , ARBUSDT is likely to dropping towards support level (1) at 0.51 . If a 4-hour candle closes below this level , it could push further to 0.42 , then 0.42 . Upward Zone: by breaking turning level around 0.59 , it suggests a increase towards resistance level (1) at 0.67 , confirming a upward trend. If the price stabilizes or stays above this level, there is a strong likelihood of reaching the resistance level (2) around 0.73 or possibly even rising . CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 0.59 before dropping . TARGET LEVEL : RESISTANCE LEVEL : 0.67 , 0.73 , 0.82 . SUPPORT LEVEL : 0.51 , 0.47 , 0.42 . Turning level at 0.59 , Time Frame ( 4H ) .
Short
by ArinaKarayi
2
PEPEUSDT ( INSIDE SENSITIVE AREA BETWEEN TWO TURNING LEVEL )(4H)PEPEUSDT Hello Traders, Currently, the price is in a sensitive area between two turning levels and is attempting to reach turning level (2). Tendency: The price is situated between turning levels 0.000008 and 0.000007. Upward Zone: For an increase, the price needs to correct at turning level (2) and stabilize above it. This should lead to a move towards turning level (1) at 0.000008. To confirm an uptrend, the price must break turning level (1) and reach resistance level (1) at 0.000010. Closing a 4-hour candle above 0.000010 , would indicate a move towards resistance level (2) at 0.000011 . Downward Zone: If the price breaks below turning level (2) at 0.000007, it should then aim for support level (1) at 0.000006. If the price stabilizes below 0.000006 , it may further decline to support level (2) at 0.000005. Target Levels: Resistance Levels: 0.000010, 0.000011 . Support Levels: 0.000006 , 0.000005 .
by ArinaKarayi
GOLD ROUTE MAP UPDATEHey Everyone, We had a PIPTASTIC finish to the week with all our Bullish targets complete!!! After completing our targets yesterday we got the correction back into the range below and we stated that we will now need to see ema5 cross and lock above 2459 to open 2475 once again. - We got the cross and lock above 2459 once again and then followed with the 2475 retest hit, just like we said. We then got the ema5 cross and lock above 2475 opening 2488 and 2500, which were both hit perfectly completing this range - BOOOOOM!!! We will now come back Sunday with our Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
10
GBPUSD ( UNDER BEARISH PRESSURE ) ( 4H )GBPUSD HELLO TRADERS Tendency , the price is under bearish pressure , until trading below turning level at 1.293 . Turning Level: The price is currently trading below this level around 1.293 . As long as it remains stable and stays below this level, a drop toward the support level (1) is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level (1) can be expected. Resistance Level (1): around 1.298 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 1.293. If the price reaches 1.298 , and stabilizes above it, it will likely attempt to reach resistance level (2) . Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.303 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 1.309 . Support Level (1): As long as the price remains below the turning level of 1.293, it suggests a drop towards 1.283 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2). Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 1.275 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 1.268 . Channel Trend: the trading rate within the ascending channel. TARGET LEVEL : RESISTANCE LEVEL : 1.298 ,1.303 ,1.309 . SUPPORT LEVEL : 1.283 , 1.275 , 1.268 .
Short
by ArinaKarayi
US30 ( TRADING BELOW RESISTANCE TRENDLINE ) ( 4H )US30 HELLO TRADERS Tendency , the price is under bearish pressure , until trading below resistance trendline . Turning Level: The price is currently trading below this level around 40,671 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected. Resistance Level (1): around 41,016 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 40,671. If the price reaches 41,016 , and stabilizes above it, it will likely attempt to reach resistance level (2) . Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 41,348 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 41,718 . Support Level (1): As long as the price remains below the turning level of 40,671, it suggests a drop towards 40,208 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2). Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 39,932 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 39,606 . Channel Trend: the trading rate within the ascending channel. TARGET LEVEL : RESISTANCE LEVEL : 41,016 ,41,348 , 41,718. SUPPORT LEVEL : 40,208 , 39,932 , 39,606 . Time Frame : 4H
EIGHTCAP:US30Short
by ArinaKarayi
USDJPY ( UNDER UPWARD PRESSURE ) ( 4H )USDJPY HELLO TRADERS in the last week the price of OANDA:USDJPY starting to rising , currently the price it will be trying to breakout a channel , in the event of this occurrence , price starts to up trading . Tendency , the price is under bullish pressure , until trading above turning level . Downward Zone : for a downward movement to occur , the price needs to break through the turning level at 145.994 , leading to decline that could reach the support level (1) 144.322 , if the price breaks and stabilizing below this level it may attempt to reach support zone between 142.223 and 139.804 . Upward Zone: as long as the price remain above the turning level at 145.994 , it may rising towards the resistance level (1) at 150.900 , if the price breaks this level with a 4h candle closing above it , it suggest further upward towards the resistance zone between 154.969 and 158.169 . CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 145.994 before rising . TARGET LEVEL : RESISTANCE LEVEL : 150.900 ,154.969 , 158.169 . SUPPORT LEVEL : 144.322, 142.223 , 139.804 .
Long
by ArinaKarayi
4
DOGEUSDT ( REMAIN ABOVE TURNING LEVEL ) ( 4H )DOGEUSDT HELLO TRADERS in the last chart as mentioned if the price breaking turning level active the upward trending , currently price remain above a turning level . Tendency, the price trading above turning level at 0.099, this makes the upward direction active. Upward Zone : currently the price remain turning level at 0.099 , until the price trading above this level we can see strong upward trending to reach resistance level (1) at 0.115 , then by closing 4h candle above it reach resistance level (2) at 0.128 . Downward Zone: by breaking turning level around 0.099 , the price dropping to reach a support level (1) at 0.091 , to confirm downward , the price need breaking 0.091 by open 4h candle below it to reach a support level (2) at 0.080 . TARGET LEVEL : RESISTANCE LEVEL : 0.0115 , 0.128 . SUPPORT LEVEL : 0.091 , 0.080 .
Long
by ArinaKarayi
3
NAS100USD ( UNDER UPWARD PRESSURE ) ( 4H )NAS100USD HELLO TRADERS The price is currently under upward pressure as long as trading continues above the support level of 18,696. For today, staying below 18,085 indicates a decline towards 18,696, but breaking this level supports a rise towards 19,522. Tendency , the price is under bullish pressure , until trading above turning level around 19,085 . Upward Zone : for an upward movement to occur , the price needs to break through the turning level at 19,085 , leading to rise that could reach the resistance level (1) at 19,522 , if the price breaks and stabilizing above this level it may attempt to reach resistance zone between 20,082 and 20,475 . Downward Zone: as long as the price remain below the turning level at 19,085 , it may drop towards the support level (1) at 18,696 , if the price breaks this level with a 4h candle closing below it , it suggest further decline towards the support zone between 17,772 and 17,270 . CORRECTIVE : currently price it will be attempt to retest to reach a support level (1) at18,696 before rising . TARGET LEVEL : RESISTANCE LEVEL : 19,522 ,20,082 , 20,475 . SUPPORT LEVEL : 18,696 , 17,772 , 17,270 . Turning level : 19,085 , Time frame 4H
OANDA:NAS100USDLong
by ArinaKarayi
XAUUSD ( UNDER BEARISH PRESSURE ) ( 4H )XAUUSD HELLO TRADERS Yesterday , during the release of the inflation rate in the U.S., just as I predicted, the drop led to a +350 pip profit . For today, the price holding at $2,442 suggests a possible rise towards resistance levels. However, if the price breaks down, we might see a decline towards support levels. There are also some key news events at 3:30 PM today that could have a significant impact on gold’s movement. Tendency , the price is under down ward pressure , until trading below resistance zone between 2,474$ and 2,484$ . Upward Zone : If the price continues to trade and hold above $2,442, it will support an upward move towards the first resistance level at 2,463$. A break above this level and the closing of a four-hour candle above it would strengthen the move into the resistance zone between 2,474$ and 2,484$ , To confirm this upward trajectory, it's expected that the news releases will likely result in a negative of the dollar. Downward Zone : A break and the closing of a four-hour candle below 2,442$ , would shift the trajectory downward toward the first support level. To confirm the downtrend, the price needs to stay below 2,421$ , leading to a move into the support zone between 2,406$ and 2,391$. TARGET LEVEL : RESISTANCE LEVEL : 2,463$ , 2,474$ , 2,484$ . SUPPORT LEVEL : 2,421$ , 2,406$ , 2,391$ . Turning Level : 2,442$ , Time Frame ( 4H )
OANDA:XAUUSDShort
by ArinaKarayi
GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts today with our plans to buy dips playing out perfectly. After completing our targets yesterday, we stated that no cross and lock above 2475 confirmed the rejection, which followed with the drop into the lower Goldturns for support bounces. We also stated that we are now back in the range and therefore levels are active again to track the movement up. We got the drop into 2434 weighted Goldturn, which provided the support for the bounce now into 2459 weighted level. We will now need to see ema5 cross and lock above 2459 to open 2475 once again. Failure to cross and lock above 2459 will follow with a rejection to find support at the lower Goldturns track the movement level to level again. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2434 - DONE EMA5 CROSS AND LOCK ABOVE 2434 WILL OPEN THE FOLLOWING BULLISH TARGET 2446 - DONE 2459 - DONE EMA5 CROSS AND LOCK ABOVE 2459 WILL OPEN THE FOLLOWING BULLISH TARGET 2475 - DONE BEARISH TARGETS 2421 EMA5 CROSS AND LOCK BELOW 2421 WILL OPEN THE FOLLOWING BEARISH TARGET 2408 2396 EMA5 CROSS AND LOCK BELOW 2396 WILL OPEN THE SWING RANGE SWING RANGE 2380 - 2360 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
BTCUSD ( UNDER BULLISH PRESSURE ) ( 4h )BTCUSD HELLO TRADERS after the price of bitcoin breakout the support trendline, currently again likely towards to reach this trend line , know trading above turning level around 58,152 . Tendency, the price is under bullish pressure , until trading above turning level around 58,152 Upward Zone: As long as the price stays above the turning level at 58,152 , bitcoin is likely to rising towards resistance level (1) at 62,212 . If a 4-hour candle closes above this level , it could push further to 65,753 . Once the price stabilizes above the resistance level (2) around 65,753, we might witness to reach resistance level (3) at 69,500 . Downward Zone: by breaking turning level around 58,152, it suggests a decline towards support level (1) at 54,665, confirming a downward trend. If the price stabilizes or stays below this level, there is a strong likelihood of reaching the support level (2) around 51,260 or possibly even lower . CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 58,152 before rising . TARGET LEVEL : RESISTANCE LEVEL : 62,212 , 65,753 . SUPPORT LEVEL : 54,665 , 51,260 .
Long
by ArinaKarayi
1
GOLD ROUTE MAP UPDATEHey Everyone, It never ceases to amaze us how amazingly our levels allow us to confirm continuations and rejections. Our last update yesterday we confirmed all our bullish targets were hit after ema5 cross and lock confirmations in each stages allowing us to track and trade the movement up. We the stated that we will now look for ema5 to cross and lock above 2475 to open 2488 and potentially 2500 or a failure to lock above this level will follow with a rejection into the lower Goldturn support levels for bounces. - This played out perfectly, as we had no cross and lock above 2475 confirming the rejection, which followed with the drop into the lower Goldturns for support bounces. We are now back in the range and therefore levels are active once again, which will allow us to track and trade the movement level to level. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2434 - DONE EMA5 CROSS AND LOCK ABOVE 2434 WILL OPEN THE FOLLOWING BULLISH TARGET 2446 - DONE 2459 - DONE EMA5 CROSS AND LOCK ABOVE 2459 WILL OPEN THE FOLLOWING BULLISH TARGET 2475 - DONE BEARISH TARGETS 2421 EMA5 CROSS AND LOCK BELOW 2421 WILL OPEN THE FOLLOWING BEARISH TARGET 2408 2396 EMA5 CROSS AND LOCK BELOW 2396 WILL OPEN THE SWING RANGE SWING RANGE 2380 - 2360 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
9
XAGUSD ( BREKOUT DESCENDING CHANNEL ) ( 4H )XAGUSD HELLO TRADERS Tendency , the price is under bearish pressure , after breakout channel and trading below turning level at 27.96. TURNING LEVEL : the price of this level at 27.96 , so until the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach of a resistance level (1) . RESISTANCE ZONE : this zone between 28.84 and 29.65 , in order to see this zone the price need breaking turning level at 27.96 , breaking this price indicates an increase and reaching the resistance level (1) at 28.84 , then stabilizing above resistance level (1) likely to reach of a resistance level (2) at 29.65 , after breaking this zone it will be attempt to reach resistance level (3) at 30.82 , selling have already increase in this zone . SUPPORT ZONE : this zone between 26.68 & 26.07 , until the price trading below turning level or stabilizing below this level indicates to reach of a support level (1) at 26.68 , by open 4h or 1h candle below support level (1) , it indicates to reaching support level (2) around 26.07 CORRECTIVE : the price corrective at 27.96 , before dropping . TARGET LEVEL : RESISTANCE LEVEL :28.84 , 29.65 , 30.82 . SUPPORT LEVEL : 26.68 , 26.07 .
OANDA:XAGUSDShort
by ArinaKarayi
1
US30 ( UNDER CPI PRESSURE ) ( 4H )US30 HELLO TRADERS Yesterday, the Dow Jones experienced a significant rise. Today, due to the release of the U.S. inflation report, the market is expected to show high volatility. From a technical perspective, if the price stabilizes below 39,951, we might see the first and second support levels. However, if it breaks above this level with a close of a 4-hour or 1-hour candle, the price is likely to rise towards the first resistance level. Tendency , the price is under bearish pressure , until trading below turning level around 39,951 Upward Zone : for an upward movement to occur , the price needs to break through the turning level at 39,951 , leading to rise that could reach the resistance level (1) at 40,668 , if the price breaks and stabilizing above this level it may attempt to reach resistance zone between 41,049 and 41,410 . Downward Zone: as long as the price remain below the turning level at 39,951 , it may drop towards the support level (1) at 39,448 , if the price breaks this level with a 4h candle closing below it , it suggest further decline towards the support zone between 39,022 and 38,370 . CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 39,951 before dropping . TARGET LEVEL : RESISTANCE LEVEL : 40,668 , 41,049 , 41,410 . SUPPORT LEVEL : 39,448 , 39,022 , 38,370 .
EIGHTCAP:US30Short
by ArinaKarayi
NAS100USD ( BETWEEN SUPPLY ZONE AND DEMAND ZONE ) ( 4H )NAS100USD HELLO TRADERS price of nas100usd trading nearby support trendline , currently price above demand zone and below supply zone , breaking down each of these determine the direction of the market . Tendency, the price inside sensitive are between supply and demand zone Upward Zone : until the price trading demand zone at 17,772 , price rising to reach a resistance level (1) at 18,342 , to ensure rise the price should be breaking supply zone by closing 4h candle above it to reach resistance level (2) 18,696 , then to 19,552 . Downward Zone: as long as the price trading below supply zone , starting to fall to reach support level (1) at17,772 , the by closing 4h or 1h candle below it reach to next level around 17,270 , to confirm decline price must be breaking the demand zone for a support zone between 16,985 and 16,649 . TARGET LEVEL : RESISTANCE LEVEL : 18,342 , 19,552 . SUPPORT LEVEL : 17,772 , 17,270$ , 16,985 ,16,649 ( support zone ) .
OANDA:NAS100USD
by ArinaKarayi
5
XAUUSD ( SENSITIVE AREA BETWEEN TWO TURNING LEVEL ) (4H)XAUUSD HELLO TRADERS Yesterday, the price of gold rose significantly . This is because of the war and chaos in the Middle East , Israeli forces attacked on the strikes on Khan Younis area on the Monday . currently price between two turning level around 2,474$ and 2,459$ , by breaking each other determine the direction , breaking and stabilizing above 2,474$ rising to reach a 2,486$ then reach a new historical peaks , if the price break through 2,459$ reach a 2,442$ . Tendency, the price inside sensitive area , generally until trading above 2,442$ indicates gold is under upward pressure . Upward Zone: As long as the price stays above the turning level (2) at 2,459$, gold is likely to rising towards $2,474. If a 4-hour candle closes above this level , it could push further to 2,486$. Once the price stabilizes above the turning level (1) around 2,474$, we might witness new all-time highs. There could be a significant retest at 2,442$, before the upward movement continues. However, as long as the price remains above this level, there's a strong possibility of reaching the2,495$ area or even higher. Downward Zone: by breaking turning level (2) around 2,459 $, it suggests a decline towards 2,442$, confirming a downward trend. If the price stabilizes or stays below this level, there is a strong likelihood of reaching the support level (1) around 2,421$ or possibly even lower . CORRECTIVE : currently price it will be attempt to huge retest to reach a turning level at 2,442$ before rising . TARGET LEVEL : RESISTANCE LEVEL : 2,486$ , 2,495$ . SUPPORT LEVEL : 2,442$, 2,421$ .
OANDA:XAUUSDLong
by ArinaKarayi
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone, Another piptastic day on the charts with our trading idea playing out perfectly!! After completing all the open targets yesterday, we advised that we were now looking for ema5 to lock above 2459 to open 2475 and failure to lock above this level will follow with a rejection to find support on the lower Goldturns. - We got the cross and lock above 2459 opening 2475 with plenty of time and gap to get in for the action and BOOOOOM!!! This was hit perfectly respecting the Goldturn. We will now look for ema5 to cross and lock above 2475 to open 2488 and potentially 2500 or failure to lock above this level will follow with a rejection into the lower Goldturn support levels for bounces. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2434 - DONE EMA5 CROSS AND LOCK ABOVE 2434 WILL OPEN THE FOLLOWING BULLISH TARGET 2446 - DONE 2459 - DONE EMA5 CROSS AND LOCK ABOVE 2459 WILL OPEN THE FOLLOWING BULLISH TARGET 2475 - DONE BEARISH TARGETS 2421 EMA5 CROSS AND LOCK BELOW 2421 WILL OPEN THE FOLLOWING BEARISH TARGET 2408 2396 EMA5 CROSS AND LOCK BELOW 2396 WILL OPEN THE SWING RANGE SWING RANGE 2380 - 2360 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
EURUSD ( UNDER DOWNWARD PRESSURE ) ( 4H )EURUSD HELLO TRADERS in the last week the price of OANDA:EURUSD trading between turning level at 1.094 and support level (1) at 1.088 , currently price stabilizing below turning level this allows them to lower prices for the support level (1) . Tendency , the price is under bearish pressure , until trading below turning level . Upward Zone : for an upward movement to occur , the price needs to break through the turning level at 1.094 , leading to rise that could reach the resistance level (1) 1.099 , if the price breaks and stabilizing above this level it may attempt to reach resistance zone between 1.102 and 1.105 . Downward Zone: as long as the price remain below the turning level at 1.094 , it may drop towards the support level (1) at1.088 , if the price breaks this level with a 4h candle closing below it , it suggest further decline towards the support zone between 1.084 and 1.078 . CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 1.094 before dropping . TARGET LEVEL : RESISTANCE LEVEL : 1.099 ,1.102 , 1.105 . SUPPORT LEVEL : 1.088, 1.084 , 1.078 .
Short
by ArinaKarayi
1
USOIL ( BREAKOUT LAST SUPPLY ZONE ) ( 4H )USOIL HELLO TRADERS after breakout last supply zone , the price stabilizing up trading , on the Friday price can be breaking supply zone and starting a rising , currently it will be attempt to reach a next supply zone around 78.56 . Tendency , after price breaking a supply zone , currently price is under upward pressure . Upward Zone : currently price trying to reach a resistance level (1) at 78.56 , possibly of the price retest a turning level at 76.37 before rising , breaking resistance level (1) with remain this level it continues the upward trend to touch resistance zone between 81.02 and 83.53 . Downward Zone: by breaking turning level with closing 4h candle below it , the price decline to reach support level (1) 74.76 , after remain below this level we see a downward trend to reach a regions 71.80 and 69.64 . CORRECTIVE : currently price it will be attempt for retest to reach a turning level at 76.37 before to see upward trend . TARGET LEVEL : RESISTANCE LEVEL : 78.56 ,81.02 , 83.53 . SUPPORT LEVEL : 74.76, 71.80 , 69.64 .
TVC:USOILLong
by ArinaKarayi
Market News Report - 11 August 2024The yen took the backseat as the dominant forex market. Instead, currencies like the Canadian and the 'two siblings' (the Aussie and New Zealand) reigned supreme. This week, let’s see how these and other markets may perform fundamentally and technically. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. The latest Fed meeting confirmed what STIR (short-term interest rate) markets already knew: a rate cut is on the table next month. The latest unemployment hike (from 4.1% to 4.3%) indicates a cooling economy and further encouragement to decrease the interest rate. This week, pay attention to several US-linked economic releases (like the core inflation rate) that may redeem or add to the dollar's bearish pressure. The DXY chart aligns perfectly with the fundamentals, having just broken a recent key support. However, the break wasn’t strong enough, so 102.358 is still an area of interest for major support. Meanwhile, the key resistance is far away at 107.348 and will likely remain untouched for some time. Long-term outlook: bearish. Markets anticipate at least two rate cuts before the year ends. The latest Consumer Price Index (CPI) and jobs data indicate a cooling of the US economy, another bearish sign. Only geopolitical risks and bond market selling can affect this overall sentiment. So, we cannot rule out a bullish fight for the dollar, but it is unlikely to happen, at least quickly. Euro (EUR) Short-term outlook: weak bearish. The European Central Bank (ECB) has recently kept its interest rate unchanged. Christine Lagarde, the ECB President, also suggested slow economic growth in the Eurozone, with inflation expected to fluctuate around current levels. The Council also indicated that rates should be 'sufficiently restrictively for as long as possible. Thanks to this mostly dovish tone, markets see an 87% chance of a cut (up from 78% last week). Interestingly, the chart tells a different story. As mentioned in our last report, the euro eventually tested the recent major resistance at 1.09813 (but not enough to break it). So, the odds are decent that this market will try again. Meanwhile, the key support area lies far below at 1.06494. Long-term outlook: weak bearish. The recent unchanged interest rate is the primary bearish driver. However, the ECB hasn't committed to a specific future path. Still, the central bank is data-dependent, and any inflation, growth, and wage improvement can lift the euro. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) cut the interest rate by 25 basis points at the start of this month. However, they remain data-dependent and have no set future path. STIR markets are currently pricing in an additional two cuts for the remainder of 2024. Pay close attention to a few noteworthy GBP-related news events this week, starting Monday with the unemployment rate and year-on-year inflation rate on Wednesday. While the pound is down on the charts, it retraced noticeably last week. Still, the key support remains at 1.26156, while the key resistance is far away at 1.31424. Long-term outlook: weak bearish. The interest rate is the chief bearish driver for the pound. However, STIR markets predict a rate hold next month. Furthermore, two-way risks remain based on upcoming economic data (e.g., inflation, labour, economic growth). Japanese yen (JPY) Short-term outlook: weak bullish. The Bank of Japan’s (BoJ) recent decision to hike the interest rate is bullish for the yen. However, STIR markets expect a hold (95% probability) at the next meeting (but one hike before the year ends). Declining US Treasury yields and the heightened political tension in the Middle East have accelerated the recent huge down move in USD/JPY. For the first time since the start of last month, USD/JPY cooled down from its massive decline. Still, it did break the recent support area. So, the next point of interest lies at 140.252. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. In addition to the recent rate hike, other bullish catalysts for the yen include lower US Treasury yields. The Bank of Japan is actively intervening in the forex markets, contributing to the JPY's upside. However, having moved quite a distance, a further retracement is imminent. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) unsurprisingly kept the interest rate unchanged on Tuesday to keep the fight against persistent inflation rate. Based on their language, a hike isn't out of the question this year. Like many currencies, the Aussie remains data-sensitive, whether we look at economic growth, labour or inflation going forward. The recent rise in China's share prices, which correlates with the Aussie, has been positive for the currency. Still, there is doubt over the longevity of this run. The Aussie rose noticeably in the past week despite breaching the recent major support area. The new level to watch for now is 0.63484, while the major resistance is far ahead at 0.67986. Long-term outlook: weak bullish. The RBA remains hawkish as per last week's meeting, focusing on core inflation. Overall, it's crucial to be data-dependent with the Aussie. Furthermore, keep in mind that the Australian dollar is exposed to slow economic growth in other countries, being a pro-cyclical currency. New Zealand dollar (NZD) Short-term outlook: neutral. In a meeting by the Reserve Bank of New Zealand (RBNZ), “The Committee agreed that monetary policy will need to remain restrictive. The extent of this restraint will be tempered over time consistent with the expected decline in inflation pressures”. In simple terms, the central bank is winning against inflation and is, thus, unlikely to raise rates. The RBNZ will meet again on Tuesday to determine the new interest rate, where it is anticipated to indicate further cuts. They are also expected to reduce GDP (Gross Domestic Product) forecasts, as well as CPI projections. Like its closest relative (AUD), the Kiwi has retraced upwards after just scraping the recent support area at 0.58524. This still remains the focal point, while the major resistance is at 0.62220, an area which it is unlikely to test soon. Long-term outlook: neutral. The central bank's recent dovish tilt amid improving inflation puts the Kiwi in a neutral bracket. On the flip side, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. Canadian dollar (CAD) Short-term outlook: bearish. The ongoing mortgage stress in Canada has forced the Bank of Canada (BoC) to be dovish, the first major bearish catalyst. With a rate cut last month, STIR markets have raised the probability to 88% (from 82% a week ago) of the same next month. The latest CPI print recently dropped while the latest labour data was mixed. While it looked to continue trending higher, USD/CAD saw a notable decline. This has left the new resistance area to be 1.39468, while the support target is far below at 1.35896. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point, with the BoC governor Macklem himself saying it's reasonable to expect more cuts in the future. Moreover, STIR markets see two rate cuts for the BoC this year. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. However, encouraging oil prices may redeem the Canadian dollar as a risk-sensitive currency, along with improvements in jobs, inflation, and GDP. Swiss franc (CHF) Short-term outlook: bearish. STIR markets forecast a rate cut in September (a 92% chance) and December this year. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term. However, the Swiss franc can strengthen during geopolitical tensions like the Middle East crisis. After being one of the biggest losers last week, USD/CHF retraced higher (in line with the fundamental outlook). The new key support area to consider is 0.84323. Meanwhile, the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion This week's hottest economic events include the interest rate decision for the New Zealand dollar, followed by a few other high-impact releases for the dollar and British pound. The fundamental outlooks of each currency have remained unchanged from the previous weeks. However, as you would expect, be prepared for technical shifts.
TVC:DXY
by CityTradersImperium_CTI
XAUUSD ( INSIDE DESCENDING CHANNEL ) ( 4H )XAUUSD HELLO TRADERS currently the price of the gold trading inside descending channel , and below turning level at 2,459$ , yesterday the price with open the market rising know could be continues rising to reach a supply zone around 2,459$ . Tendency, the price inside descending channel and trading below turning level , indicates under down ward pressure . Upward Zone : in order see increase , should be the price breaking turning level at 2,459$ , to rising and reach resistance level (1) at 2,474$ , by breaking and stabilizing above this level it will be attempt to reach 2,486 $ , then reaching a resistance zone around 2,495$ and 2,510$ . Downward Zone: until the price trading below supply zone around 2,452$ and 2,459$ , dropping to reach support level (1) around 2,421$ , and after breaking this level by closing 4h candle below it indicates further decline to support zone around 2,406$ and 2,391$. CORRECTIVE : currently price it will be attempt to huge retest to reach a turning level at 2,459$ before dropping . TARGET LEVEL : RESISTANCE LEVEL : 2,47$ ,2,486$ , 2,494$ . SUPPORT LEVEL : 2,421$, 2,406$ , 2,391$ .
OANDA:XAUUSDShort
by ArinaKarayi
XRPUSDT ( BETWEEN TWO TURNING LEVEL ) (4H)XRPUSDT HELLO TRADERS price of BINANCE:XRPUSDT inside sensitive area between two turning level , currently it will be attempt to reach turning level (2) . Tendency, the price inside sensitive are between two turning level around 0.5822 and 0.6184 . Upward Zone : in order see increase , if the price corrective turning level (2) and stabilizing above this level should be trying to reach turning level (1) at 0.61844 , to confirm up trading , the price will be breaking turning level (1) to reach resistance level (1) at 0.6508 , after by closing 4h candle above it reach a resistance level (2) at 0.6939 . Downward Zone: by breaking turning level (2) at 0.5822 , the price should be trying to reach support level (1) 0.5595 , after stabilizing below this level could further support to reach of as next level at 0.5144 . TARGET LEVEL : RESISTANCE LEVEL : 0.6508 , 0.6939 . SUPPORT LEVEL : 0.5595 , 0.5144 .
by ArinaKarayi
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